Analysis:
Yesterday's Analysis predicted that "the market will cautiously move higher, as the expected mid-term election results will weigh on the dollar." Today the dollar continued to depreciate against major currencies, and the market moved higher. Looking ahead to tomorrow, the Factory Orders will be healthy, and the ISM Non-manufacturing Index will bring a positive surprise. The weakness of the dollar below $1.40/Euro along with QE2 greater than $500 billion will seal the market above 1,200.
Strategy:
Hold long at 1,160
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